Fintel reports that on November 8, 2024, Wells Fargo upgraded their outlook for Molson Coors Beverage (NYSE:TAP) from Underweight to Overweight.
Analyst Price Forecast Suggests 2.84% Upside
As of October 22, 2024, the average one-year price target for Molson Coors Beverage is $61.25/share. The forecasts range from a low of $47.47 to a high of $78.75. The average price target represents an increase of 2.84% from its latest reported closing price of $59.56 / share.
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The projected annual revenue for Molson Coors Beverage is 11,144MM, a decrease of 4.61%. The projected annual non-GAAP EPS is 4.42.
What is the Fund Sentiment?
There are 1,335 funds or institutions reporting positions in Molson Coors Beverage. This is an decrease of 6 owner(s) or 0.45% in the last quarter. Average portfolio weight of all funds dedicated to TAP is 0.20%, an increase of 8.01%. Total shares owned by institutions increased in the last three months by 1.04% to 208,946K shares. 
The put/call ratio of TAP is 0.62, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 14,575K shares representing 7.57% ownership of the company. In its prior filing, the firm reported owning 14,515K shares , representing an increase of 0.41%. The firm decreased its portfolio allocation in TAP by 21.48% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 10,727K shares representing 5.57% ownership of the company. No change in the last quarter.
Lsv Asset Management holds 6,306K shares representing 3.27% ownership of the company. In its prior filing, the firm reported owning 6,331K shares , representing a decrease of 0.40%. The firm decreased its portfolio allocation in TAP by 20.29% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,635K shares representing 2.93% ownership of the company. In its prior filing, the firm reported owning 5,584K shares , representing an increase of 0.91%. The firm decreased its portfolio allocation in TAP by 25.82% over the last quarter.
COWZ - Pacer US Cash Cows 100 ETF holds 5,475K shares representing 2.84% ownership of the company. In its prior filing, the firm reported owning 3,430K shares , representing an increase of 37.35%. The firm increased its portfolio allocation in TAP by 33.09% over the last quarter.
Molson Coors Beverage Background Information
(This description is provided by the company.)
For over two centuries Molson Coors has been brewing beverages that unite people for all of life’s moments. From Coors Light, Miller Lite, Molson Canadian, Carling, and Staropramen to Coors Banquet, Blue Moon Belgian White, Blue Moon LightSky, Vizzy, Leinenkugel’s Summer Shandy, Creemore Springs and more, Molson Coors produces some of the most beloved and iconic beer brands ever made. While the company’s history is rooted in beer, Molson Coors offers a modern portfolio that expands beyond the beer aisle as well. The company’s commitment to raising industry standards and leaving a positive imprint on its employees, consumers, communities and the environment is reflected in its Imprint and its 2025 sustainability targets.
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